There are many forms of giving, but only one that generates general prosperity: capitalism. It does not begin with exchange, but with giving. It is not the state that creates prosperity, but the entrepreneur and businessman. The cause of mass prosperity is individuals, specific people, their actions and their ideas.
Contrary to what inequality researcher Thomas Piketty and his colleagues claim, the gap between rich and poor in the USA has barely widened over the years. The tax data has been misinterpreted. Once again, ideology is pitted against facts.
Inflation is profoundly socially unjust. Its causes lie above all in an expansionary monetary policy, and this must be stopped. If policymakers want to prevent the inevitable recession that will follow, they will only make the problems worse.
Economists and researchers in the U.S. agree: the Earned Income Tax Credit helps millions of households stand on their own two feet. Work is rewarded, and with the help of this program, one million children have escaped child poverty.
It is not globalization, nor the market economy, nor capitalism that is a danger and should be reformed; it is the policies that might provide the wrong, anti-market response to the pandemic that are the real danger precisely to the growth of prosperity in the world’s poorest countries.
Attempting neutrality in public education ends up creating a systemic preference for a particular ethical standpoint. This creates a tension between public schools and the principle of liberal neutrality. This tension can be resolved without abandoning government-financed education through policies that are both popular and effective.
Economics is not a zero-sum game. In exchange, both sides always benefit. Exchange is the soul of the market and creates added value, and does so in a way that benefits everyone involved. A plea for economic enlightenment.
In his book “Why Liberalism Failed” Patrick Deneen deals with all varieties of Liberalism. They are the fruit of a false image of man – an assertion which, however, proves to be questionable on closer inspection.
